Mercer Capital Advisers Inc. maintained its stake in McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,195 shares of the company’s stock at the end of the second quarter. Mercer Capital Advisers Inc.’s holdings in McKesson Corporation were worth $197,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. Candriam Luxembourg S.C.A. increased its stake in McKesson Corporation by 130.1% in the second quarter. Candriam Luxembourg S.C.A. now owns 31,555 shares of the company’s stock valued at $5,192,000 after buying an additional 17,840 shares during the period. Stratos Wealth Partners LTD. increased its stake in McKesson Corporation by 0.9% in the second quarter. Stratos Wealth Partners LTD. now owns 22,978 shares of the company’s stock valued at $3,781,000 after buying an additional 210 shares during the period. Parsec Financial Management Inc. increased its stake in McKesson Corporation by 2.5% in the second quarter. Parsec Financial Management Inc. now owns 7,658 shares of the company’s stock valued at $1,260,000 after buying an additional 187 shares during the period. Markel Corp increased its stake in McKesson Corporation by 65.9% in the second quarter. Markel Corp now owns 15,100 shares of the company’s stock valued at $2,485,000 after buying an additional 6,000 shares during the period. Finally, Ingalls & Snyder LLC increased its stake in McKesson Corporation by 1.3% in the second quarter. Ingalls & Snyder LLC now owns 9,587 shares of the company’s stock valued at $1,577,000 after buying an additional 125 shares during the period. 86.58% of the stock is currently owned by institutional investors and hedge funds.
McKesson Corporation (NYSE MCK) opened at 149.26 on Wednesday. The firm’s 50-day moving average is $161.82 and its 200 day moving average is $152.15. The stock has a market capitalization of $31.38 billion, a P/E ratio of 6.77 and a beta of 1.13. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $196.02.
McKesson Corporation (NYSE:MCK) last issued its earnings results on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing the consensus estimate of $2.81 by $0.35. The company had revenue of $51.05 billion for the quarter, compared to analysts’ expectations of $51.22 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. McKesson Corporation’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.50 earnings per share. Equities analysts expect that McKesson Corporation will post $12.08 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a dividend of $0.34 per share. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Wednesday, August 30th. McKesson Corporation’s payout ratio is presently 5.00%.
Several research firms have recently commented on MCK. BidaskClub downgraded shares of McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Jefferies Group LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a report on Thursday, July 27th. Vetr downgraded shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price target on the stock. in a report on Monday, July 17th. Zacks Investment Research raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Wednesday, July 12th. Finally, Leerink Swann increased their price target on shares of McKesson Corporation to $170.00 and gave the stock a “market perform” rating in a report on Thursday, June 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $171.21.
In other McKesson Corporation news, SVP Erin M. Lampert sold 404 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $160.53, for a total transaction of $64,854.12. Following the sale, the senior vice president now directly owns 2,003 shares in the company, valued at approximately $321,541.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John H. Hammergren sold 19,316 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $162.31, for a total transaction of $3,135,179.96. Following the sale, the chairman now owns 96,644 shares in the company, valued at $15,686,287.64. The disclosure for this sale can be found here. Insiders have sold a total of 60,231 shares of company stock worth $9,830,297 over the last 90 days. Insiders own 1.20% of the company’s stock.
McKesson Corporation Company Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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